Team Blitz India
Dragon Oil, wholly owned by the Dubai Government, has successfully initiated crude oil production from the Al Wasl field (North Safa), marking its inaugural oil discovery in Egypt, as reported by Emirates News Agency, WAM.
The project involves the establishment of a new offshore production platform and various measures, including extending production and electricity lines for oil production pumps and implementing a water injection project. These initiatives aim to maintain high production rates and achieve optimal development rates for existing reserves.
Dragon Oil’s development plans for the Al Wasl field include connecting the second well south of Belayim 293-6 to the production line by mid-January. This will result in increased production capacity, reaching to 3,000 barrels of crude oil per day. Hence, raising the production from platform to 6,000 barrels per day.
The agreement with the Egyptian authorities entails a further drilling of seven new wells over the course of next two years. It will post crude oil production to 15,000 barrels per day from the Al Wasl field.
The commencement of operations at the Al Wasl offshore platform follows the successful implementation of the first phase of the early production project. The completion of evaluation operations for the well south of Belayim 293-5A marked the initial production rate of 3,000 barrels of crude oil per day.
Discovered in 2021, the Al Wasl field, North Safa, stands out as the largest oil discovery in the Gulf of Suez region in the last two decades. With a minimum oil reserve exceeding 95 million barrels, Dragon Oil has undertaken an ambitious early production project with a total investment of $200 million to harness the field’s significant potential.
